France 'Too Big to Save' as Default Haunts Bonds — SkimNews
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- Europe's indebted nations are 'starting to blink' at 'market wrath' as bond investors punish heavily leveraged sovereigns.
- Paul Krugman warned France may have become 'too big to save' amid its escalating debt crisis.
Why it matters: Default has emerged as the 'tail risk haunting French bonds,' and Nobel economist Paul Krugman has declared France may have become 'too big to save.' Together, the credit-market warnings and a Nobel-level assessment of unsustainability raise the stakes for French fiscal policy — and for eurozone policymakers deciding whether to intervene.
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